Pengaruh Kebijakan Hutang, Arus Kas Bebas, Likuiditas Dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan ( Studi Empiris Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2016-2019)

Tujuan penelitian ini adalah untuk mengetahui pengaruh kebijakan hutang, arus kas bebas, likuiditas dan pertumbuhan penjualan terhadap kinerja keuangan pada perusahaan pertambangan yang terdaftar di BEI pada periode 2016-2019. Variabel independen dalam penelitian ini adalah kebijakan hutang, arus kas bebas, likuiditas dan pertumbuhan penjualan sedangkan variabel dependen adalah kinerja keuangan. Populasi dalam penelitian ini adalah perusahaan pertambangan di BEI pada periode 2016-2019. Teknik pengumpulan data yang digunakan adalah purposive sampling, sedangkan sampel yang diperoleh sebanyak 72 yang sesuai kriteria. Teknik analisis data yang digunakan dalam penelitian ini yaitu statistik deskriptif, uji asumsi klasik, uji analisis regresi berganda dan uji hipotesis statistik. Berdasarkan hasil menunjukkan bahwa variabel arus kas bebas berpengaruh positif terhadap kinerja keuangan, sedangkan veriabel kebijakan hutang, likuiditas dan pertumbuhan penjualan tidak berpengaruh terhadap kinerja keuangan. The purpose of this study was to determine the effect of independent the effect of debt policy, free cash flow, liquidity, and sales growth on financial perfomance in mining companies listed on the IDX in the 2016-2019 period. The independent variable in this study is the debt policy, free cash flow, liquidity, and sales growth, while the dependent variable is financial perfomance. The population in this study were mining companies on the IDX in the 2016-2019 period. The data collection technique used was purposive sampling, while the samples obtained were 72 that fit the criteria. The data analysis technique used in this research is descriptive statistics, classical assumption test, multiple regression analysis test, statistical hypothesis test. Based on the results show that the independent free cash flow has a positive effect on financial perfomance and than variabel debt policy, liquidity and sales growth have no effect on financial perfomance.

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PENGARUH FREE CASH FLOW TERHADAP UTANG

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v4i2.1857 ◽

2017 ◽

Vol 4 (2) ◽

pp. 107

Author(s):

Heru Nurwahyudi ◽

Aida Ainul Mardiyah

Keyword(s):

Cash Flow ◽

Hypothesis Test ◽

Agency Cost ◽

Free Cash Flow ◽

Third Party ◽

Manufacturing Companies ◽

Font Size ◽

Public Companies ◽

Agency Relationship ◽

Debt Policy

The objective of this research is to analysis and giving the empirical evidence about the free cas flow and the effect of it for debt policy of public companies in Indonesia. This research was using 66 samples of manufacturing companies in the year 2000 and 90 sample of manufacturing in the year 2001. This sample was elected based on purposive sampling, the hypothesis test is the simple tinier regres-sion.The result of this research showed that hypothesis were suppo4ted, there are influence of free cash flow to the debt policy. In the agency relationship there is differences interest between the principal and the manager also created agency problems that finally also create agency cost. In the shareholders (agents) point of view, this can be minimize by the third party (debtho!der) whose come by the debt policy. Increasing financing with debt will reduce the conflict between the sharehold-ers and the management.Keywords: Free cash flow, debt

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The Effect of Firm Sizes, Profitability, Dividend Policy, Asset Structure, Sales Growth and Free Cash Flow on Debt Policy

AMAR (Andalas Management Review) ◽

10.25077/amar.4.1.100-119.2020 ◽

2020 ◽

Vol 4 (1) ◽

pp. 100-119

Author(s):

Ria Nurdani ◽

Ika Yustina Rahmawati

Keyword(s):

Cash Flow ◽

Dividend Policy ◽

Stock Exchange ◽

Secondary Data ◽

Financial Statements ◽

Free Cash Flow ◽

Sales Growth ◽

Manufacturing Companies ◽

Company Growth ◽

Debt Policy

The study aims to examine the effect of company size, profitability, dividend policy, asset structure, company growth and free cash flow on debt policy. The object of this study uses manufacturing companies listed on the Indonesia Stock Exchange. The data used is secondary data in the form of annual financial statements for the 2015-2018 period. The collection technique used in this study was purposive sampling while the data analysis techniques used in this study were descriptive statistics, classic assumption tests, multiple regression analysis and hypothesis testing. The analysis show that the size of the company has a negative and not significant effect on debt policy, profitability has a negative and significant effect on debt policy. Dividend policy variables and asset structure has a negative and significant effect on debt policy. While sales growth and free cash flow has no effect on debt policy.

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Analisis Faktor Yang Mempengaruhi Underpricing Pada Perusahaan Yang Terdaftar di Bursa Efek Indonesia Tahun 2010-2016

Jurnal Inspirasi Bisnis dan Manajemen ◽

10.33603/jibm.v2i2.1721 ◽

2018 ◽

Vol 2 (2) ◽

pp. 167

Author(s):

Era Franatalia Sembiring ◽

Gina Rahmawati ◽

Ferby Wijaya Kusumawati

Keyword(s):

Influencing Factors ◽

Firm Size ◽

Sampling Method ◽

Hypothesis Test ◽

Statistical Hypothesis ◽

Return On Equity ◽

Purposive Sampling ◽

Statistical Hypothesis Test ◽

Research Period ◽

Research Show

Abstract. The aim of this research is to analyze the influencing factors stock underpricing in the year of 2010-2016. This research analyzes the influence Debt to Asset Ratio (DAR), Return on Equity (ROE), and the firm size to stock underpricing. This research uses purposive sampling method so, from 155 companies of the population, there are 96 companies were selected as research samples. The test consists of a classic assumption test and statistical hypothesis test namely partial test and simultan test uses multiple regressions. The results of the research show partially, variable return on equity (ROE) take effect negatively and significant to underpricing, firm size take effect positively and significant to underpricing, but variable debt to asset ratio (DAR) there is no effect to company underpricing. Simultaneously, debt to asset ratio (DAR), return on equity (ROE), and firm size jointly have a significant effect to underpricing. For further research, is expected to add to the research period and add more research variable allows affect underpricing. Keywords: DAR, IPO, ROE , Size, Underpricing Abstrak. Penelitian ini dilakukan dengan tujuan untuk menganalisis faktor-faktor yang mempengaruhi underpricing saham pada tahun 2010-2016. Penelitian ini menganalisis pengaruh Debt to Asset Ratio (DAR), Return on Equity (ROE), dan ukuran perusahaan terhadap underpricing saham. Metode pengambilan sampel dalam penelitian ini adalah purposive sampling sehingga dari 155 perusahaan yang menjadi populasi terpilih 96 perusahaan yang dijadikan sampel penelitian. Pengujian terdiri dari uji asumsi klasik dan uji hipotesis statistik yaitu uji parsial dan uji simultan menggunakan multiple regresi. Hasil penelitian menunjukkan bahwa secara parsial variabel return on equity (ROE) berpengaruh negatif dan signifikan terhadap underpricing, ukuran perusahaan (Size) berpengaruh positif dan signifikan terhadap underpricing, sedangkan variabel debt to asset ratio (DAR) tidak berpengaruh terhadap underpricing perusahaan. Secara simultan debt to asset ratio (DAR), return on equity (ROE), dan ukuran perusahaan (size) secara bersama-sama berpengaruh signifikan terhadap underpricing. Untuk penelitian selanjutnya diharapkan untuk menambah periode penelitian dan menambah varibel penelitian yang lebih memungkinkan mempengaruhi underpricing. Kata Kunci : DAR, IPO, ROE , Size, Underpricing

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Parameter Estimation for Industrial Servomotor by Using Statistical Hypothesis Test

Journal of Applied Reliability ◽

10.33162/jar.2019.06.19.2.134 ◽

2019 ◽

Vol 19 (2) ◽

pp. 134-140

Author(s):

Baek-Ju Sung ◽

Sung-kyu Lee ◽

Mu-Seong Chang ◽

Do-Sik Kim

Keyword(s):

Parameter Estimation ◽

Hypothesis Test ◽

Statistical Hypothesis ◽

Statistical Hypothesis Test

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Bayesian level set method based on statistical hypothesis test and estimation of prior probabilities for image segmentation

10.1117/12.853699 ◽

2010 ◽

Author(s):

Yao-Tien Chen

Keyword(s):

Image Segmentation ◽

Level Set Method ◽

Level Set ◽

Hypothesis Test ◽

Statistical Hypothesis ◽

Prior Probabilities ◽

Statistical Hypothesis Test

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PENGARUH FREE CASH FLOW, FINANCIAL DISTRESS, DAN INVESTMENT OPPORTUNITY SET TERHADAP MANAJEMEN LABA

Jurnal Akuntansi Bisnis ◽

10.30813/jab.v14i1.2458 ◽

2021 ◽

Vol 14 (1) ◽

Author(s):

Sally Irawan ◽

Prima Apriwenni

Keyword(s):

Earnings Management ◽

Cash Flow ◽

Financial Distress ◽

Stock Exchange ◽

Total Sample ◽

Free Cash Flow ◽

Investment Opportunity ◽

Purposive Sampling ◽

Investment Opportunity Set ◽

Positive Effect

ABSTRACT : Stakeholders pay attention to the earnings report, thus encouraging company managers to plan strategies to produce reports expected by stakeholders. Earnings management is one way that can be done. Managers can intervene the earnings management by increasing or decreasing profit in order to achieve a certain level of profit which benefits himself or the company. This study aims to determine the influence of free cash flow, financial distress, and investment opportunity set on earnings management. The research sample consisted of 11 infrastructure, utility, and transportation companies listed on the Indonesia Stock Exchange in 2014-2018 with the total sample of 55 data. This study used a purposive sampling method and was tested with SPSS 22.0 Software. The results show that the data have met the pooling test, classical assumptions and established criteria. The results of the F test show that the earnings management variable is affected simultaneously by free cash flow, financial distress, and investment opportunity set variables. The t test results show that the free cash flow and investment opportunity set have a significant positive effect on earnings management, whereas financial distress does not. In sum, there is enough evidence that free cash flow and investment opportunity set positively affect earnings management, but financial distress does not have enough evidence to influence earnings management.Keywords: Earnings Management, Free Cash Flow, Investment Opportunity Set, Financial Distress. ABSTRAK: Laporan laba menjadi perhatian para stakeholders sehingga mendorong manajer perusahaan melakukan perencanaan strategi untuk menghasilkan laporan yang diharapkan stakeholder. Manajemen laba adalah salah satu cara yang dapat dilakukan. Intervensi manajer untuk melakukan manajemen laba dengan cara menaikkan atau menurunkan laba guna mencapai tingkat laba tertentu untuk menguntungkan dirinya sendiri atau perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh free cash flow, financial distress, dan investment opportunity set terhadap manajemen laba. Sampel penelitian ini adalah perusahaan infrastruktur, utilitas, dan transportasi yang terdaftar di Bursa Efek Indonesia periode 2014-2018. Total sampel yang digunakan adalah 11 perusahaan dengan data observasi yang diperoleh sebanyak 55. Teknik pengambilan sampel yang digunakan adalah non-probability sampling dengan menggunakan metode purposive sampling dan pengujian yang dilakukan dengan bantuan software SPSS 22.0. Hasil penelitian dari data yang digunakan, untuk uji pooling dan asumsi klasik telah lulus uji dan sudah memenuhi kriteria yang ditetapkan. Hasil uji F menunjukkan bahwa variable manajemen laba dipengaruhi secara simultan oleh variable free cash flow, financial distress, dan investment opportunity set. Dari hasil uji t memperlihatkan hasil bahwa free cash flow dan investment opportunity set mempunyai nilai signifikan positif terhadap manajemen laba, tapi untuk financial distress tidak mempunyai nilai signifikan terhadap manajemen laba. Kesimpulan dari penelitian ini adalah free cash flow dan investment opportunity set berpengaruh positif terhadap manajemen laba, sedangkan financial distress tidak berpengaruh terhadap manajemen laba.Kata Kunci: Manajemen Laba, Free Cash Flow, Investment Opportunity Set, Financial Distress

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The effect of debt policy, company value, company size, investment cash flow on stock returns on mining companies listed on Indonesia Stock Exchange

The Indonesian Accounting Review ◽

10.14414/tiar.v9i1.1703 ◽

2019 ◽

Vol 9 (1) ◽

pp. 99

Author(s):

Ardhia Prameswari Regita Cahyani ◽

Carolyn Lukita Sembiring

Keyword(s):

Financial Performance ◽

Stock Returns ◽

Cash Flow ◽

Firm Value ◽

Stock Exchange ◽

Company Size ◽

Mining Company ◽

Mining Companies ◽

Company Value ◽

Debt Policy

Investment is a delay in consumption now to be allocated to productive assets which are expected to generate profits in the future, which is called stocks return. Mining company in Indonesia is an attractive sector to invest in stocks because from a geographical perspective, Indonesia is an archipelago structure that contains mining products. There are risks that will be experienced by investors when investing, namely systematic risk and unsystematic risk. Unsystematic risk can be avoided because related to management decisions. Knowing and analyzing the effect of debt policy, firm value, company size, investment cash flow on stock returns on mining companies listed on the Indonesian Stock Exchange. The statistical method used in this study is multiple regression analysis. The sample in this study is a mining company that has go public and published audited financial statements 2013-2017 with 84 data processed consisting of 28 companies each year. The results of hypothesis testing can be concluded that debt policy and firm value have significant effect on stock returns while firm size and investment cash flow does not have significant effect on stock returns. Investor will be interested in investing in companies with good financial performance rather than bad financial performance.

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ANALISIS PENGARUH LIKUIDITAS, STRUKTUR AKTIVA, FREE CASH FLOW, DAN UKURAN PERUSAHAAN TERHADAP KEBIJAKAN UTANG (DER) PADA PT JASA MARGA Tbk PERIODE 2009-2018

KEUNIS ◽

10.32497/keunis.v7i2.1588 ◽

2019 ◽

Vol 7 (2) ◽

pp. 92

Author(s):

Anita Kristina ◽

Prihatiningsih Prihatiningsih ◽

Ida Savitri Kusmargiani

Keyword(s):

Linear Regression ◽

Multiple Linear Regression ◽

Cash Flow ◽

Linear Regression Analysis ◽

Multiple Linear Regression Model ◽

Multiple Linear Regression Analysis ◽

Free Cash Flow ◽

Company Size ◽

Analysis Model ◽

Debt Policy

This research is based on the problems of the company PT Jasa Marga Tbk which has a problem with the performance of the company which is indicated by the DER of companie increased during the period 2009-2018. The purpose of this research is to analyze the influance of direction and significance of Liquidity, Asset Structure, Free Cash Flow and Company Size on Debt Policy (DER) in PT Jasa Marga Tbk for the period 2009-2018. The population and sample in this study were PT Jasa Marga Tbk. The analysis model used in this study is a multiple linear regression model. The results of the multiple linear regression analysis showed that (1) the influance of Liquidity (CR) on Debt Policy (DER) was positive and significant (2) the influance Asset Structure on Debt Policy (DER) was negative and not significant (3) the influance of Free Cash Flow on Debt Policy (DER) is positive and significant (4) the influance of Company Size on Debt Policy (DER) is positive and significant.

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PENGARUH FREE CASH FLOW DAN LEVERAGE TERHADAP MANAJEMEN LABA DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI

AKUNTABILITAS ◽

10.29259/ja.v13i1.9481 ◽

2019 ◽

Vol 13 (1) ◽

pp. 69-82

Author(s):

Erma Setiawati ◽

Mujiyati Mujiyati ◽

Erma Marga Rosit

Keyword(s):

Corporate Governance ◽

Regression Analysis ◽

Earnings Management ◽

Cash Flow ◽

Free Cash Flow ◽

Leverage Effect ◽

Purposive Sampling ◽

Good Corporate Governance

This research aimed to examine the effect of free cash flow and leverage to earnings management.This study also examines the role of good corporate governance as measured by the index Government in moderating influence of free cash flow and leverage on earnings management. This research was conducted in the company are listed in the JakartaIslamicIndex(JII)from2015-2017 and unlisted in the Bursa Efek Indonesia(BEI).The sample is determined by purposive sampling with 45 samples. This analysis uses regression analysis moderation (MRA). The results of the research indicate where (1) free cash flow significant effect on earnings management, (2) no leverage effect on earnings management, (3) good corporate governance as measured by the index of corporate governance is not able to moderate the influence of free cash flow and earnings management

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FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP KEBIJAKAN HUTANG PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia Tahun 2012-2014)

JURNAL AKUNTANSI DAN AUDITING ◽

10.14710/jaa.14.1.40-54 ◽

2018 ◽

Vol 14 (1) ◽

pp. 40

Author(s):

Luluk Muhimatul Ifada ◽

Yunandriatna Yunandriatna

Keyword(s):

Multiple Regression ◽

Cash Flow ◽

Dividend Policy ◽

Free Cash Flow ◽

Managerial Ownership ◽

Company Size ◽

Listed Firms ◽

Negative Effect ◽

Debt Policy

Debt policy is one of the most important decisions for the company. It is thus important to figure out the determinants of debt policy. The main purpose of this study is to examine the effect of the size, free cash flow, managerial ownership, dividend policy on debt policy of Indonesian manufacturing public listed firms. Data collected from 195 companies from 2012 to 2014 were analyzed using multiple regression. Current study found that free cash flow and managerial ownership have negative effect on the debt policy. Furthermore, the study also found that dividend policy and company size positively affects the debt policy.

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